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Protasco Bhd

Protasco Bhd is one of the construction players that are expected to benefit from an early general election in 2017. The well-established player in the construction industry is focused on road maintenance works, where most of them are based on concessions awarded by state and federal governments, providing the company with a steady income stream.With the heightened expectation of the 14th general election happening in 2017, there is a potential for extra emergency road maintenance works to be carried out, according to Kenanga Research.Protasco has an outstanding order book of about RM4.4 billion for its maintenance concessions, which could last for about 10 years, contributing about RM400 million to its revenue yearly.Looking forward, Protasco is eyeing more sizeable concessions, which could potentially contribute another RM100 million to RM200 million to its top-line.For its construction division, management is targeting a replenishment of about RM500 million for the financial year ending Dec 31, 2017 that comprises infrastructure and government housing projects such as Perumahan Penjawat Awam 1Malaysia (PPA1M).Protasco has a strong track record with PPA1M project, in which the company has bagged two phases of PPA1M worth RM900 million.Besides a steady income stream, the group also has a decent dividend yield of about 5.6%, far superior in comparison with other small- to mid-cap construction players with an average of 2.9%. — By Billy TohSource: http://www.theedgemarkets.com/my/article/top-10-stock-picks-2017

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